Carat downgrades global ad forecast to 3.0% growth

London—Citing a slower-than-expected global economic recovery, media agency Carat downgraded its worldwide ad spending forecast for this year to 3.0% growth, down from a March forecast of 3.7% growth.
Carat lowered its global ad spending forecast for next year to 4.5% growth, from an earlier projection of 5.0%.
In the U.S., ad spending will increase 3.1% this year, Carat said in its latest projection; it had previously forecast 3.5% growth. It also cut its projection for U.S. ad spending growth next year to 3.0% from 4.0%.